…says foreign currency deposits limited to Abuja and Lagos CBN branches By Opeyemi Abdulsalam The Central Bank of Nigeria (CBN) has released new directives to commercial banks regarding the deposit of foreign currency cash with the apex bank. In a…
By Opeyemi Abdulsalam The Central Bank of Nigeria (CBN) has announced the discontinuation of its Price Verification System (PVS) portal, effective July 1, 2024. This decision follows recent developments in the Nigerian foreign exchange market. In a circular dated June…
By Abdullah Abdulsalam The Central Bank of Nigeria (CBN) has granted International Money transfer operators (IMTOs) access to the naira. The CBN made this known on Tuesday as part of measures to enhance local currency liquidity for the settlement of…
By Matthew Denis A Senior Customs officer while responding to questions at the Public Account Committee of the House of Representatives has slumped and died. The incident which took place during the engagement, which occurred around 1.00 pm on Tuesday,…
The Central Bank of Nigeria (CBN) has announced new measures to enhance local currency liquidity for the settlement of diaspora remittances. The measures will allow eligible international money transfer operators (IMTOs) to access naira liquidity at the official window. This…
By Opeyemi Abdulsalam The Securities and Exchange Commission (SEC) has introduced a comprehensive framework to support the Central Bank of Nigeria’s (CBN) bank recapitalisation program. This framework aims to ensure a seamless, transparent, and efficient process for banks and holding…
By Opeyemi Abdulsalam The Central Bank of Nigeria (CBN) recently hosted a meeting with the Organised Private Sector (OPS) to discuss strategies for enhancing Nigeria’s financial sector. The meeting aimed to improve monetary policy communication and guidance to boost Nigeria’s…
By Opeyemi Abdulsalam The Central Bank of Nigeria (CBN) recently hosted a meeting with the Organised Private Sector (OPS) to discuss strategies for enhancing Nigeria’s financial sector. The meeting aimed to improve monetary policy communication and guidance to boost Nigeria’s…
Nigeria’s foreign exchange reserves increased by 5 percent to $33.58 billion in the last two months. This is according to the Central Bank of Nigeria, CBN’s latest FX data as of June 19, 2024. Accordingly, the foreign exchange reserves figure…
By Matthew Denis, Abuja Contrary to reports making rounds, the Central Bank of Nigeria (CBN) has dismissed a purported sack of the current board and management of Unity, Keystone and Polaris Banks. Speaking on Monday Night with our correspondent on…
